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Property Crossroads - Real Estate Info

Blaming the media … again

by Dan on November 5th, 2007

The National Association of Realtors has decided to fight back … again.

The association, the largest trade group representing real estate agents, has a lot to worry about these days. Its membership has stopped rising. The residential housing industry is in a deep slump. Foreclosure rates are up.

But what seems to really rile up the association is the media.

Yes, officials with the National Association of Realtors are once again engaging in one of their favorite activities: blaming the media for the housing industry’s problems.

The association has created a new print ad that it says explains the “real facts” behind the current real estate market. The ad itself, which features a smiling child in a backyard swing, can be seen here. The ad basically lists the many reasons to buy a house. It’s a positive ad, and not inaccurate.

What is disturbing, though, is the press release that the association uses to introduce its new ad. Early in the release, the association includes this paragraph: “To counter recent negative housing reports in the media, NAR is helping local REALTOR associations across the country explain the real facts behind the real estate market in their area.”

There it is again: The association is once again stating that the media is distorting the current state of the residential market. In other words, the association is saying that all those news reports focusing on foreclosures, subprime lending problems and stagnant prices are unfair. Even worse, the association is hinting, the negative reports are prolonging the housing industry’s troubles.

That is, of course, nonsense.

The media isn’t being unfair. The residential housing industry is in terrible shape right now, and the industry slowdown was inevitable. It would have happened even if the New York Times ran daily front-page feature stories in bold type shouting that real estate is the best investment anyone can make.

The media’s job is to report what is happening. It’s not the fault of reporters that foreclosures are up. It’s not their fault that it’s taking far longer to sell homes now. It’s just reality. It’s the media’s job to report on this reality.

Blaming the media for the housing industry’s woes has become a popular but tiring sport. The National Association of Realtors knows better. It’s a shame they had to introduce a generally positive ad campaign in such a shabby manner.

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POSTED IN: Breaking News, Buying a Property, Educational Tools, Insights and Commentaries, Mortgage, Real Estate Terms, Real Life Stories, Selling a Property

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